Forum on Venezuela situation held in Hanoi hinh anh 1At the forum (Photo:

Hanoi (VNA) – Real situation and outlook for Venezuela were provided at a forum jointly held by the Vietnam-Venezuela Friendship Association and Venezuelan Embassy in Hanoi on March 21.

Associate Professor PhD Nguyen Viet Thao, Vice Director of the Ho Chi Minh National Academy of Politics and Public Administration, said that the forum creates opportunities for participants, including lecturers from the academy, to update information about the South American country.

Strong decline in global oil prices in recent years have impacted on the country’s socio-economic development, Venezuelan Ambassador Jorge Rondon Uzcategui said, highlighting that 2016 was a tough year for Venezuela as foreign currency collection tapered off by 87 percent as an impact from the low oil price.

He added that despite difficulties, the country still focuses on social investments. Recovery signs in oil price are expected to lever up the economy and create a turning point for Venezuela, he stressed.

Expressing his thanks to the Vietnam-Venezuela Friendship Association for joining hands with the Venezuelan Embassy to organise such event, the ambassador believed that Vietnam and Venezuela will enjoy further sound relations.

At the forum, many participants raised questions on the social life in Venezuela and expressed their love for the country.-VNA